In addition to reviewing and updating vendor data, we also strongly recommend reviewing each vendor's 1099 amounts to ensure this figure meets your expectations.
Which Vendors Do I Need to Review Amounts?
Ceterus strongly recommends reviewing amounts for all vendors regardless of status. This is because while the vendor data may not have changed since last year's filing, the amount could have changed and should always be reviewed. This is a best practice no matter who is filing your 1099s.
Reviewing 1099 Amounts
Log into the Ceterus Bookkeeping platform
On the left sidebar, choose 1099 Manager
Select Filing Status tab
Select Tax Year > and then the tax year you are needing to review
A list of recipients (vendors) should appear
Remember
Amounts will not be finalized until you've been notified that your December books are complete. We recommend waiting to review these amounts once you've received your financials closed notification for all locations for December books.
To the left of each recipient name, click the + symbol to expand the recipient amount values
This will populate the total amounts for the recipient
Reviewing the 1099 Amount Breakdown
If after reviewing the amount total for the recipient you wish to review this more in depth, follow the below steps.
Log into the Ceterus Bookkeeping platform
On the left sidebar, choose 1099 Manager
Select Filing Status tab
Select Tax Year > and then the tax year you are needing to review
A list of recipients (vendors) should appear
For each recipient you wish to view the breakdown, select View/Edit W9 Info under the Action Column
This should bring up a popup with Recipient information
Select 1099 Amounts tab
Next to the Box Number column, click the + symbol to expand the recipient breakdown
If you cannot see the full details, use the scroll feature to see the breakdown of amount, transaction date, and location
What am I looking at on the Amount Breakdown?
Standard Vendor = Vendor name associated to Ceterus Bookkeeping platform
Location Vendor = Recipient name listed on the W9.
This may or may not be the same as the Standard Vendor name
Location ID = Your store's Edge ID
Location Name = Your store
Transaction Date = Date the transaction hit the bank
JE ID = Journal Entry ID
GL Account = General Ledger Account Number
Description = Description of the transaction (usually Rent, Non-Employee Compensation, etc.)
JE Amount = Amount of the transaction for that date
Can I export this breakdown?
The amount breakdown is currently not exportable in our platform.
Incorrect Amounts
If you notice the amounts are not meeting your expectations, follow the below steps.
On the Filing Status tab, confirm you have selected the Tax Year as the current year you are wanting to review
Confirm that the 1099 Amount Last Updated timestamp is up-to-date
Checkpoint
Remember that amounts will not be finalized until you have received your December financials close notification. This is likely to be expected between January 15th and January 20th.
If the timestamp is up to date and amounts are expected to be finalized (your December books have been closed), submit an email to Ceterus Support with the below information
Recipient (Vendor) listed in 1099 Manager
Location (Payer) Recipient is for
Amount listed in 1099 Manager
Amount you believe should be listed
Any other relevant information that may be helpful for our team to research
Your financial team will then look into these corrections and keep you up-to-date with any changes or questions
Note
If we do not receive any corrections from you regarding amounts, we will complete the recipients filings according to the amounts we have recorded in the Ceterus Bookkeeping platform.
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